Indian markets correct amid concerns surrounding fiscal stimulus

“Indian markets corrected as the local and global news flows has been negative. Globally, Fed’s almost certain rate hikes next month as well as China downgrade and rising geopolitical tensions between the US and North Korea hit the investor sentiment. The finance minister’s statement of providing Rs 50,000cr stimulus package to fight the slowdown also was seen negative by the market as this means tossing the fiscal prudence maintained over past few years. Investors may have also used this correction to book profit.”